Cost-Benefit

Economists often believe that they have the answers when it comes to trade offs between what things cost and the benefits derived therefrom. Well, Mr. Adam Smith, please explain the following head-scratchiers when it comes to such cost-benefit analyses that some people make:

- A Jackson Pollack "dribble" painting

- A Malibu monster beach house

- Tickets in the nose-bleed section of a December Minnesota Vikings home game

- Shares of Tesla stock

- A pre-paid future ride on a Richard Branson or Elon Musk "spaceship"

- A $100 per shot drink of 40-year-old single-malt Scotch whisky

- An Apple-Watch

- A Honus Wagner baseball card

- A cryptocurrency such as Bitcoin

- An Aston-Martin One ($1.4M)

- A luxury condo in Hong Kong

Rats!

Sometimes I dislike being right ... see: Branson's Booby. The Virgin Galactic "spaceship" has crashed during a test flight in California killing the pilot and seriously injuring the copilot ... see: CNN Money Story.

Afterward: For someone thinking along the same lines as myself (albeit with a little less empathy for Branson) read: Time Magazine Story.